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https://hdl.handle.net/10419/21566

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Wage trends and deflation risks in Germany and Europe

Lohnentwicklung und Deflationsrisiko in Deutschland und Europa
[working paper]

Hein, Eckhard
Schulten, Thorsten
Truger, Achim

Corporate Editor
Wirtschafts- und Sozialwissenschaftliches Institut in der Hans-Böckler-Stiftung

Abstract

"Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the deflationary ... view more

"Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the deflationary development of unit labour costs in recent years, in particular in Germany, are analysed. Finally, the impact of deflationary wage policies on German and European stagnation are discussed and it is concluded that the excessive wage restraint in Germany not only exacerbates stagnation and deflationary tendencies in Germany but might also have a deflationary impact on the other EMU countries." (author's abstract)... view less

Keywords
price; EU; monetary union; labor market trend; wage policy; wage; Federal Republic of Germany; development; deflation; monetary policy; collective bargaining; labor costs

Classification
Economic Policy

Method
empirical; quantitative empirical

Document language
English

Publication Year
2004

City
Düsseldorf

Page/Pages
29 p.

Series
WSI-Diskussionspapier, 124

Handle
https://hdl.handle.net/10419/21566

Status
Published Version; reviewed

Licence
Deposit Licence - No Redistribution, No Modifications

Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne


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© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.